India Targets Increased R&D Spending to Boost Innovation
· Business · Business Standard
India is currently at a critical juncture to increase its research and development expenditure to drive long-term economic growth. The country's current R&D spending remains low compared to global peers, necessitating a shift toward higher investment from both public and private sectors. Policymakers are focusing on creating an ecosystem that encourages innovation in emerging technologies and industrial applications. This transition is viewed as essential for moving India up the global value chain and reducing reliance on imported intellectual property. The strategy involves incentivizing corporate participation alongside government-funded initiatives at national research institutions.
Why it matters
Increased R&D investment is expected to boost India's industrial competitiveness and technological self-reliance, directly impacting sectors like manufacturing, pharmaceuticals, and software development.
Read the original report — Business Standard
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